HomeMy WebLinkAbout1985-080 Trust Deed - Chisholm
'0'" No. ..,-0.....,,"~t D"~,,!";..::::T~~ST_O~_('~. 5 '1~ ~L ~~__ ~~_ ~ __ . -, ".':"'~''- CAW,"",," ". 00., ,.. ,,^' 0, .. "'0<
oc ----TRUST-~DEED--~-~-7-- ,37. IE. gDf:\ (~Ol>) 8.00
85. -04888 ~,I:) 0
THIS TRUST DEED, made this ....3.0.~.~._...__...day of .__M.~!rt-:..__........__....__......__....., 19.--8~between
.. _.. -..... ._. -.. Ale_x.. .C.hi..s hQ 1m............. _._... _oo..., _...... - _.. _'.... _.' _.... .........__ __........._.... .__'.".'_ _....... _................ _..... _ __....oo............
. _... _...... _oo_
--... - ----.... --. -............... --.. -.......oo..... _"."."""'.""".. _.oo......oo..oo..oo.. u............. oo....__ __ _. .__.__........ .______... __ __..oooo.... ...... __....oo............oo
. __..oo__...........,
as Grantor, .--.c.r.at.er...Tit.le....ln..s.uranc.eoo..c.ompany...__..anoo.Gre.go.n.__c.orp_orat.io.n, as Trustee, and
..--.-------------..-.-------------.-------------.-.-.------------------------------------------------------------------------------------------.-------------------------------------------------
. "'--'OO"'..oooo __..... .The... .C.i.t.y... Q f... .Ashl.and.......... _. .__.......... __ .______... .__... ..__.. __oo.. "__""oo.. "oO.. .__.....oo.. __...__.....oooo..........oo......oo...__....
as Beneficiary,
WITNESSETH:
Grantor irrevocably grants, bargains, sells and conveys to
In ...----..J.ac.ks.onoo..mmm__..m..__...County, Oregon, described as:
between Sections 8 and 9 in Township 39 South,
mette Meridian in Jackson County, Oregon; thence
West 374.4 feet to the West line of Granite Street;
to the true point of beginning; thence North 50 00'
the South line of Strawberry Lane in the City of Ashland;
feet to a stake on the East line of tract described in
Jackson County, Oregon, Deed Records; thence South 40 45'
feet to a stake; thence East 100.0 feet to the true point
trustee In trust, with power of sale, the property
Commencing at the quarter corner
Range 1 East of the Willa-
South 319.7 feet; thence
thence West 150.0 feet
00" West 244.5 feet to
thence West 100.0
Volume 285, Page 353,
00" East 244.5
of beginning.
together with all and singular the tenements, hereditaments and appurtenances and all other rights thereunto belonging or in anywise
now or hereafter appertaining, and the rents, issues and profits thereof and all fixtures now or hereafter attached to or used in connec-
tion with said real estate.
FOR THE PURPOSE OF SECURING PERFORMANCE of
Four ThQUSnand _ Eigh.t nHundr.ed.
sum of
each agreement of grantor herein contained and payment of the
.L$.44-_RO_Q~__O.O)
n__n___Dollars, with interest thereon according to the terms of a promissory
note of even date herewith, payable to beneficiary or order and made by grantor, the final payment of principal and interest hereof, it
not sooner paid, to be due and payable upon. salen _or_ t.ransfer, 19n_
The date of maturity of the debt secured by this instrument is the date, stated above, on which the final instalJment of said note
becomes due and payable. In the event the within described property, or any part thereof, or any interest therein is sold, agreed to be
sold, conveyed, assigned or alienated by the grantor without first having obtained the written consent or approval of the beneficiary.
then, at the beneficiary's option, alJ obligations secured by this instrument, irrespective of the maturity dates expressed therein, or
herein, shalJ become immediately due and payable.
The above described real property is not currently used for agricultural, timber or grazing purposes.
To protect the security of this trust deed, grantor agrees:
1. To protect, preserve and maintain said property in good condition
and repair; not to remove or demolish any building or improvement thereon;
not to commit or permit any waste of said property.
2. To complete or restore promptly and in good and workmanlike
manner any building or improvement which may be constructed, damaged or
destroyed thereon, and pay when due all costs incurred therefor.
3. To comply with all laws, ordinances, regulations, covenants, condi-
tions and restrictions affecting said property; if the beneficiary so requests, to
join in executing such financing statements pursuant to the Uniform Commer-
cial Code as the beneficiary may require and to pay for filing same in the
proper public office or offices, as well as the cost of all lien searches made
by filing officers or searching agencies as may be deemed desirable by the
beneficiary.
4. To provide and continuously maintain insurance on the buildings
now or hereafter erected on the said premises against loss or damage by fire
and such other hazards as t~ bw~iRaryOrpfly from time to time req,!ire, ~n
an amount not less than $-':L,-_O U-Un.nUn..nn, wntten In
companies acceptable to the beneficiary, with loss payable to the latter; all
policies of insurance shall be delivered to the beneficiary as soon as insured;
if the grantor shall fail for any reason to procure any such insurance and to
deliver said policies to the beneficiary at least fifteen days prior to the expira-
tion of any policy of insurance now or hereafter placed on said buildings,
the beneficiary may procure the same at grantor's expense. The amount
collected under any fire or other insurance policy may be applied by benefi-
ciary upon any indebtedness secured hereby and in such order as beneficiary
may determine, or at option of beneficiary the entire amount so collected, or
any part thereof, may be released to grantor. Such application or release shall
not cure or waive any default or notice of default hereunder or invalidate any
act done pursuant to such notice.
5. To keep said premises free fronl construction rens and to pay all
taxes, assessments and other charges that may be levied or assessed upon or
against said property before any part of such taxes, assessments and other
charges become past due or delinquent and promptly deliver receipts therefor
to beneficiary; should the grantor fail to make payment of any taxes, assess-
ments, insurance premiums, liens or other charges payable by grantor, either
by direct payment or by providing beneficiary with funds with which to
make such payment, beneficiary may, at its option, make payment thereof,
and the amount so paid, with interest at the rate set forth in the note secured
hereby, together with the obligations described in paragraphs 6 and 7 of th!s
trust deed, shall be added to and become a part of the debt secured by thIS
trust deed without waiver of any rights arising from breach of any of the
covenants 'hereof and for such payments, wth interest as aforesaid, the prop-
erty hereinbefore described, as well as the grantor, shall be bound to the
same extent that they are bound for the payment of the obligation herein
described, and all such payments shall be immediately d.ue and payable. ":ith-
out notice, and the nonpayment thereof shall, at the optIOn of the benefiCIary,
render all sums secured by this trust deed immediately due and payable and
constitute a breach of this trust deed.
6. To pay all costs, fees and expenses of this trust including ~he cost
of title search as well as the other costs and expenses of the trustee Incurred
in connection with or in enforcing this obligation and trustee's and attorney's
fees actually incurred.
7. To appear in and defend any action or proceeding purporting to
affect the security rights or powers of beneficiary or trustee; and in any suit,
action or proceeding in which the beneficiary or trustee may appear, including
any suit for the foreclosure of this deed, to pay all costs and expenses, in-
cluding evidence of title and the beneficiary's or trustee's attorney's fees; the
amount of attorney's fees mentioned in this paragraph 7 in all cases shall be
fixed by the trial court and in the event of an appeal from any judgment or
decree of the trial court, grantor further agrees to pay such sum as the ap-
pellate court shall adjudge reasonable as the beneficiary's or trustee's attor-
ney's fees on such appeal.
I t is mutually agreed that:
8. In the event that any portion or all of said property shall be taken
under the right of eminent domain or condemnation, beneficiary shall have the
right, if it so elects, to require that all or any portion of the monies payable
as compensation for such taking, which are in excess of the amount required
to pay all reasonable costs, expenses and attorney's fees necessarily paid or
incurred by grantor in such proceedings, shall be paid to beneficiary and
applied by it first upon any reasonable costs and expenses and attorney's fees,
both in the trial and appellate courts, necessarily paid or incurred by bene-
ficiary in such proceedings, and the balance applied upon the indebtedness
secured hereby; and grantor agrees, at its own expense, to take such actions
and execute such instruments as shall be necessary in obtaining such com-
pensation, promptly upon beneficiary's request.
9. At any time and from time to time upon written request of bene-
ficiary, payment of its fees and presentation of this d.eed anc! the note tor
endorsement (in case of full reconveyances, for cancellatIOn), WIthout affecting
the liability of any person for the payment of the indebtedness, trustee may
(a) consent to the making of any map or plat of said property; (b) join in
granting any easement or creating any restriction thereon; (c) join in any
subordination or other agreement affecting this deed or the lien or charge
thereof; (d) reconvey, without warranty, all or any part of the property_ The
grantee in any reconveyance may be described as the "person or persons
legally entitled thereto," and the recitals there;n of any matters or facts shall
be conclusive proof of the truthfulness thereof. Trustee's fees for any of the
services mentioned in this paragraph shall be not less than $5.
10. Upon any default by grantor hereunder, beneficiary may at any
time without notice, either in person, by agent or by a receiver to be ap-
pointed by a court, and without regard to the adequacy of any security for
the indebtedness hereby secured, enter upon and take possession of said prop-
erty or any part thereof, in its own name sue or otherwise collect the rents,
issues and profits, including those past due and unpaid, and apply the same,
less costs and expenses of operation and collection, including reasonable attor-
ney's fees upon any indebtedness secured hereby, and in such order as bene-
ficiary may determine.
11. The entering upon and taking possession of said property, the
collection of such rents, issues and profits, or the proceeds of fire and other
insurance policies or compensation or awards for any taking or damage of the
property, and the application or release thereof as aforesaid, shall not cure or
waive any default or notice of default hereunder or invalidate any act done
pursuant to such notice.
12. Upon default by guintor in payment of any indebtedness secured
hereby or in his performance of any agreement hereunder, the beneficiary may
declare all sums secured hereby immediately due and payable. In such an
event the beneficiary at his election may proceed to foreclose this trust deed
in equity as a mortgage or direct the trustee to foreclose this trust deed by
advertisement and sale. In the latter event the beneficiary or the trustee shall
execute and cause to be recorded his written notice of default and his election
to sell the said described real property to satisfy the obligation secured
hereby whereupon the trustee shall fix the time and place of sale, give notice
thereof as then required by law and proceed to foreclose this trust deed in
the manner provided in ORS 86.735 to 86.795.
13. After the trustee has commenced foreclosure by advertisement and
sale, and at any time prior to 5 days before the date the trustee conducts the
sale, the grantor or any other person so privileged by ORS 86.753, may cure
the default or defaults. If the default consists of a failure to pay, when due,
sums secured by the trust deed, the default may be cured by paying thE
entire amount due at the time of the cure other than such portion as would
not then be due had no default occurred. Any other default that is capable of
being cured my be cured by tendering the performance required under the
obligation or trust deed. In any case, in addition to curing the default or
defaults, the person effecting the cure shall pay to the beneficiary all costs
and expenses actually incurred in enforcing the obligation of the trust deed
together with trustee's and attorney's fees not exceeding the amounts provided
by law.-
14. Otherwise. the sale shall be held on the date and at the time and
place designated in the notice of sale or the time to which said sale may
be postponed as provided by law. The trustee may sell said property either
in one parcel or in separate parcels and shall sell the parcel or parcels at
auction to the highest bidder for cash, payable at the time of sale. Trustee
shall deliver to the purchaser its deed in form as required by law conveying
the property so sold, but without any covenant or warranty, express or im-
plied. The recitals in the deed of any matters of fact shall be conclusive proof
of the truthfulness thereof. Any person, excluding the trustee, but including
the grantor and beneficiary, may purchase at the sale.
15. When trustee sells pursuant to the powers provided herein, trustee
shall apply the proceeds of sale to payment of (1) the expenses of sale, in-
cluding the compensation of the trustee and a reasonable charge by trustee's
attorney, (2) to the obligation secured by the trust deed, (3) to all persons
having recorded liens subsequent to the interest of the trustee in the trust
deed as their interests may appear in the order of their priority and (4) the
surplus, if any, to the grantor or to his successor in interest entitled to such
surplus.
16. Beneficiary may from time to time appoint a successor or succes-
sors to any trustee named herein or to any successor trustee appointed here-
under. Upon such appointment, and without conveyance to the successor
trustee, the latter shall be vested with all title, powers and duties conferred
upon any trustee herein named or appointed hereunder. Each such appointment
and substitution shall be made by written instrument executed by beneficiary,
which, when recorded in the mortgage records of the county or counties in
which the property is situated, shall be conclusive proof of proper appointment
of the successor trustee.
17. Trustee accepts this trust when this deed, duly executed and
acknowledged is made a public record as provided by law. Trustee is not
obligated to notify any party hereto of pending sale under any other deed of
trust or of any action or proceeding in which grantor, beneficiary or trustee
shall be a party unless such action or proceeding is brought by trustee.
NOTE: The Trust Deed Act provides that the trustee hereunder must be either an attorney, who is an active member of the Oregon State Bar, a bank, trust company
or savings and loan association authorized to do business under the laws of Oregon or the United States, a title insurance company authorized to insure title to real
property of this state, its subsidiaries, cHi liates, agents or branches, the United States or any agency thereof, or an escrow agent licensed under ORS 696.505 to 696.585.
I -
85..04888
The grantor covenants and agrees to and with the beneficiary and those claiming under him, that he is law-
fully seized in fee simple of said described real property and has a valid, unencumbered title thereto This Trus t
Deed is inferior to A Trust Deed, including the terms and provisions thereof,
dated October 31, 1980, recorded November 4, 1980, as Document No. 80-22596,
Official Records of Jackson County, Oregon, given to secure payment of a
note, with interest thereon and that he will warrant and forever defend the
same against all persons whomsoever.
The grantor warrants that the proceeds of the loan represented by the above described note and this trust deed are:
(a)* primarily for grantor's personal, family, household or agricultural purposes (see Important Notice below),
6bXX~O{~tJi.~KOOXQ{X~tXK~~NPrnK~~cK~<<~K>x<<cKtlQO{lxrMlele}i)}{~l!iXl~iiii~xtXii~~
~
This deed applies to, inures to the benefit of and binds all parties hereto, their heirs, legatees, devisees, administrators, execu-
tors, personal representatives, successors and assigns. The term beneficiary shall mean the holder and owner, including pledgee, of the
contract secured hereby, whether or not named as a beneficiary herein. In ;tonstruing this deed and whenever the context so requires, the
masculine gender includes the feminine and the neuter, and the singular number . eludes the plural.
IN WITNESS WHEREOF, said grantor has hereunto set hi
* IMPORTANT NOTICE: Delete, by lining out, whichever warranty (a) or (bl is
not applicable; if warranty (a) is applicable and the beneficiary is a creditor
as such word is defined in the Truth-in-Lending Act and Regulation Z, the
beneficiary MUST comply with the Act and Regulation by making required
disclosures; for this purpose, if this instrument is to be a FIRST lien to finance
the purchase of a dwelling, use Stevens-Ness Form No. 1305 or equivalent;
if this instrument is NOT to be a first lien, or is not to finance the purchase
of a dwelling use Stevens-Ness Form No. 1306, Or equivalent. If compliance
with the Act is not required, disregard this notice.
(If the signer of the above is a corporation,
use the form of acknowledgment opposite.)
STATE OF OREGON,
County of _ ___Jackson_
)
) ss.
)
S
T E OF OREGON, ~6e~i-ssionfx-pires-
JANE DAVIS
NOTARY PUBLIC OREGON
-l
_>_/;A
duly sworn, did sa
president and
secretary of
---.-;__Wh;;~ each being first
___, 19_
Personally appeared the above named
Alex. Chis_holm
appeared
..-'/-
__ _______ and
_uu_ ;';,F
,/'~
;;.-/-
_and acknowledged the foregoing instru-
ment to be his volu act and deed.
. - - - --,
a corporation, and that the sf*fl ixed to the foregoing instrument is the
corporate seal of said corpofation a that the instrument was signed and
sealed in behalf of saicJ.~corporation b uthority of its board of directors;
and each of them fJC'knowledged said i rument to be its voluntary act
and deed. ,/
Before me: /"
.//
(OFFICIAL
SEAL)
(OFFICIAL
SEAL)
My commission expires: /2- -).. 7..- &7
//_ _____u_____
N ~ Public for Oregon
~y commission expires:
REQUEST FOR FULL RECONVEYANCE
To be used only when obligations have been paid.
TO: __
_____, Trustee
The undersigned is the legal owner and holder of all indebtedness secured by the foregoing trust deed. All sums secured by said
trust deed have been fully paid and satisfied. You hereby are directed, on payment to you of any sums owing to you under the terms of
said trust deed or pursuant to statute, to cancel all evidences of indebtedness secured by said trust deed (which are delivered to you
herewith together with said trust deed) and to reconvey, without warranty, to the parties designated by the terms of said trust deed the
estate now held byfyou under the same. Mail reconveyance and documents to
DATED:
, 19__
Beneficiary
Do not lose or destroy this Trust Deed OR THE NOTE which it secures. Both must be delivered to the trustee for cancellation before reconveyance will be made.
TRUST DEED
STATE OF OREGON,
~ss.
(FORM No. 8811
STEVENS-NESS LAW PUB. CO.. PORTLAND. ORE.
Grantor
SPACE RESERVED
FOR
RECORDER'S USE
Jackson County, Oregon
Recorded
OFFICIAL RECORDS
31985~~
/C.';lbAPR
Beneficiary
KATHLEEN S.BECKETT
~RDER
By I Deputy
/
AFTER RECORDING RETURN TO
~ ..
PROMISSORY NOTE
Loan Amount: $4,800.00
Loan Number
083 HD-M
Date:
Ashland, Oregon
FOR VALUE RECEIVED pursuant to a Deferred Payment Loan from the
City of Ashland, the undersigned jointly and severally promise(s)
to pay to the order of the City of Ashland, a political subdivision
of the State of Oregon, or it's successors, the sum of
Four Thousand Eight Hundred ------------------------ dollars.
($ 4.800.00 ).
THIS NOTE shall become due and payable upon any actual or attempt-
ed transfer, voluntary or involuntary, including by operation of
law or death of the undersigned, of any interest in that certain
real property identified and described in the Trust Deed securing
this indebtedness. When death of the undersigned causes transfer
of the property to a surviving spouse, the above previous shall
not apply and the rights and responsibilities of this Note shall
transfer with the property to the surviving spouse. Said payment
shall be made in lawful money of the United States of America at
the office of the Ashland Housing Rehabilitation Program, Ashland,
Oregon, or at such other places as shall be designated by the City
of Ashland.
The Llndersigned reserves the right to repay at any time all of the
f)J:- i nc ipal arnoun t of this Note in a s ingle payment without the pay-
ment of penalties, discount or premiums. Payment of less thaIl the
full sum owing shall not be accepted.
it suit or action is instituted by the City of Ashland to recover
on this Note, the prevailing party agrees to pay to the losing
I)drt all costs of such collection, including reasonable attorney's
f"i'. and court costs :Z:::I::U::P::~~ SECUR G THE NOTE,
BY TjE U. ERSIGNED, AS OF DATE BELOW
(signature)
(date)